South Africa has many businesses and with that comes a lot of business chambers. Business chambers are there to ensure its members and their interests are protected and promoted. Having business chambers is important for businesses as they elevate the concerns of businesses and ensure they are operating in a fair environment.
With so many businesses, one of the biggest chambers is the National Small Business Chamber (NSBC). The NSBC is a non-profit member organisation that works to foster the sustainability and growth of the small to medium-sized enterprises (SMEs) industry.
As SMEs continue to search for opportunities in funding, education, talent and other skills, the NSBC provides a centralised resource for all this.
In this article, we take a deep dive into the NSBC and how it helps SMEs.
How Does the NSBC Work?
The NSBC works to address the challenges, needs and wants of its SME base. The NPO’s purpose is to foster sustainability, growth, job creation, reducing unemployment and nurturing South Africa’s entrepreneurial sector and spirit.
Additionally, the organisation bases whatever it does on the results of its large-scale national surveys. Currently, there are over 234 thousand SMEs and global brands that work with the NSBC as partners.
NSBC Initiatives
The organisation has a range of initiatives on its website. These are designed to help SMEs with access to various resources.
Access to Finance Initiative
The NSBC’s access to finance initiative is not yet launched but will be available to SMEs soon. Under the initiative, members can apply for their required financing and receive the following:
- Free credit report
- Guides on how to get funding ready
- Free ticket to the Finance Indaba
How to “Become Financially Fit” Initiative
Under this initiative, SMEs are educated on their financial and credit health and empowered to improve their personal and business credit profiles to access the funding required to grow and maintain their businesses.
The ‘How to become financially fit’ initiative is in partnership wit Experian and gives members access to free credit information through the Experian education app.
Launch My Start-up Initiative
Launch My Startup is an enterprise and supplier development (ESD) programme developed by the NSBC. The aim of the initiative is to sponsor over 100 high-potential startups every year using ESD funding.
To qualify for the programme, you need to meet the following criteria:
- Your business must be 51% or more black-owned
- Your business must be operating longer than 6 months
- Your business can be operating in any industry
Once you have applied, the NSBC will get back to you within 5 days if your application is successful.
Prompt Payment Code Initiative
The Prompt payment code initiative is aimed at ensuring big businesses pay SMEs within 30 days for services rendered. Public supporters of this initiative commit to:
- Paying SMEs within 30 days once the final and compliant invoice is received or terms have been agreed
- Provide SME suppliers with clear and accessible guidance on payment procedures
- Ensure there is a system for dealing with complaints and disputes
- Advising within 7 days if the invoice is incorrect
Search Engine Gateway Initiative
The search engine gateway initiative is in partnership with Google. This programme is aimed at helping SMEs get a high Google ranking for their businesses. Through the initiative, you can build your online profile and:
- Build your digital presence
- Get your business found easily online
- Increase website traffic
- Boost sales and conversion rates
Small Business Friday Initiative
Small Business Friday is an initiative in partnership with Absa. The movement is aimed at encouraging South Africans to support local businesses and is done throughout the year with its peak being the first Friday of Spring every year.
Build a Business Academy
The Build a Business Academy is an online education platform for SMEs and entrepreneurs. The platform works with the NSBC to deliver ongoing learning through Build a Business Guides.
The guides on the platform can be accessed from anywhere and anytime, are produced with high-quality content, are cost-effective and easy-to-use.
NSBC Licensee Initiative
This initiative is for individuals or businesses who want to help SMEs reach their goals. The function of this initiative is to network with SMEs through referrals and invite them to become members of the NSBC.
The NSBC licensee initiative is for people who have commercial experience and entrepreneurial flair. Once in the programme, you get the following benefits:
- NSBC licensee status
- Personalised Microsoft Exchange NSBC e-mail
- Personalised and branded e-mail signature
- Personalised NSBC licensee dashboard to help you manage your new business
- Full training and implementation
- Ongoing support from the NSBC
If you want to be part of this programme, there is a required startup investment fee of R 38 500.
The NSBC is a one-stop shop for all things small business. For SMEs looking for support, resources and information on the SME sector, the NSBC is a great membership to have.
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